Tag: titan

Shares of Titan Company dropped 3 percent to Rs 2,470.70 in Monday’s intra-day trade, in an otherwise firm market, after Titan Company reported a 12 percent YoY growth in standalone business, with the jewelry segment growing at 11 percent YoY, Watches & Wearables at 14 percent, EyeCare at 10 percent and emerging businesses at 75 percent. Titan Company said it continued to expand its network with 129 store additions for the quarter, taking its total store count to 2,537. The Street had forecast a growth of 17 percent on-year on the back of a strong wedding season. A total of 111 new retail outlets were added in the quarter across businesses, taking the total count to 2,362. Titan's jewelry retail brand Tanishq opened its first international boutique store in the USA in December 2022. The company now has a total of six stores spread across Dubai, Abu Dhabi, and the USA in the overseas market. Read more

Shares of Titan Company rallied 6 percent to Rs 2,744.30 on the BSE in Friday’s intra-day trade after the Tata Group firm said its witnessed healthy double-digit growth across most businesses with overall sales growing 18 percent year-on-year (YoY) in the September quarter (Q2FY23). Titan’s mainstay jewelry business has emerged as a shining star during the quarter. Excluding the sale of bullion, jewelry revenues grew by 18% year-on-year, surpassing expectations. Gold jewelry clocked low double-digit growth whereas studded sales were higher than the overall division driven by good activations and better contributions from high-value purchases, the company said. Titan said the outlook for the festive season continues to be optimistic and is visible in positive consumer sentiment across categories. Read more

Shares of Tata group firm Titan surged 8 percent to Rs 2,170.95 on the BSE in Thursday's intra-day trade after the company said its total sales in the first quarter of fiscal 2022-23 (Q1FY23) grew 205 percent year-on-year (YoY) led by strong wedding demand and a low base. Its network expansion and campaigns continued to progress well throughout Q1FY23, which was the non-disrupted first quarter in the last three years, said Titan in its quarterly updates. In Q1FY23, jewelry revenue nearly tripled, clocking a growth of 207 percent. The Division had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya in May month after 2 years of Covid-induced lockdowns in this period. Both walk-ins and buyers grew in line with revenues whereas ticket size marginally improved compared to Q1FY22, Titan Company said in its exchange filing. Read more

Rakesh Jhunjhunwala’s portfolio stock Titan Company hit a record high on Thursday and rose over 5% and is among the top Nifty gainers in trade on March 17, 2022. Titan’s stock rose 5.2% at Rs 2721.65 per share on NSE and was up 5% at Rs 2720 apiece on the BSE in intraday trading. According to stock market experts, the stock is expected to reap the margin benefit of the recent gold price rally in the international market. They said that chances are bright for the jewelry stock to give better Q4 numbers in the upcoming result season. They said that Titan share prices are in an uptrend and may climb to a new lifetime high in the next month. Last week on Friday, the company said its subsidiary has inked an agreement to acquire 17.5% voting rights in US-based Great Heights Inc for USD 20 million (around Rs 152 crore). TCL North America Inc (TCLNA), a wholly-owned subsidiary of the company, has signed a stock purchase agreement with Great Heights Inc for the subscription of shares Read more

Titan saw its December quarter (Q3) net profit zooms 135 percent to Rs 987 crore compared to the year-ago period to Rs. 419, sharply beating analysts' estimate of Rs 847 crore. Titan said the October-December 2021 period was one of its best quarters in terms of growth and profitability. Titan's quarterly revenue increased 30.6 percent on a year-on-year basis to Rs 9,515 crore, according to a regulatory filing. The company said it saw strong demand across its consumer businesses. Its jewelry division did “exceedingly well”, and other divisions also witnessed growth over pre-pandemic levels. The jewelry business of the company jumped 37 percent on year to Rs 8,563 crore in the reported quarter. The watches and wearables business of Titan posted a 29 percent on-year growth in sales to Rs 708 crore, while the eyewear operations grew 26 percent. It posted an EBITDA margin of 14.7 percent in the third quarter of FY22, as against 11.8 percent in the year-ago period. Read more

The key benchmark indices gyrated between zones in trade day before firming up in the latter half of the trading session taking cues from the broader markets. The BSE Sensex opened marginally higher at 60,997 but soon jumped to a high of 61,405. The BSE index thereafter slipped into the negative zone on account of weakness in select index heavyweights only to bounce back in the green. Aggressive buying towards the fag end of the trading day, saw the Sensex jump to a high of 61,498, and finally, end 383 points higher at 61,350. The NSE Nifty moved in a range of 211 points, between a high of 18,310 and a low of 18,099, before settling with a gain of 143 points at 18,268. Read more

Tata Motors, IndusInd Bank, Eicher Motors, ICICI Bank, SBI Life Insurance, and Reliance Industries were among other gainers.ONGC was the top loser in the pack, down 2.17 percent. Divi’s Labs and Britannia Industries were among those that traded in the red. FACTORS DRIVING MARKETS: Crude oil cools off: Oil prices dropped back from multi-year highs hit a day earlier, having been a major contributor to this week's equities sell-off. Gas prices also fell, a day after Russian leaders indicated that supply to Europe could increase. Read more

Shares of Titan Company dipped 3 percent to Rs 1,717.55 on the BSE in intra-day trade on Wednesday after the watch-to-jewelry maker released a business update for the first quarter of FY22. The company recorded revenue growth of around 117 percent year-on-year (YoY), excluding bullion sales, in the April-June quarter of the financial year 2021-22 (Q1FY22), with revenue contribution of nearly 50 percent 10 percent and 40 percent coming from April, May and June months, respectively. The company’s sales were hit amid the second COVID-19 wave, which led to temporary closures of stores in key states. Jewellery division in Q1FY22 grew by around 107% (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. The watches and wearables division grew by around 280% over Q1FY21. Eye Wear division grew by around 117% over Q1FY21. Read more

Shares of Titan Company gained 7 percent after hitting a record high of Rs 1702 on the BSE in intra-day trade on Thursday amid the expectation of a strong recovery, due to pent-up demand and market share gains. Rakesh Jhunjhunwala’s favorite stock surpassed its previous high of Rs 1,620.95, touched on January 6 this year, and was the top Sensex gainer on Thursday. Titan Company’s market capitalization now stands close to Rs 1.5 lakh crore. Analysts believe that this stock may rally 7 percent more from current levels to Rs 1,800 in the next few days. Rising gold prices are also seen as a positive factor for Titan shares as consumers buy jewelry in anticipation that gold prices may continue to rise in the days to come. On April 29, Titan reported robust sales growth of 61 percent year-on-year (YoY) in the January-March quarter (Q4FY21) but the operating performance was below Street estimates on lower Ebitda margins due to a steep fall in gross margin.

Titan Co on Wednesday reported a net profit of Rs 199 crore for the quarter ended September, down 37.81 per cent from Rs 320 crore a year ago on account of higher expenses. The Company had reported a loss of Rs 270 crore in June Quarter.The numbers are in line with market expectations as a CNBC-TV18 poll had estimated the number to the tune of Rs 200 crore. Its total income for the quarter was Rs 4,389 crore, down 1.72 per cent as compared with the income of Rs 4,466 crore for the corresponding quarter in the previous year. While the company had reported revenue of Rs 1,862 crore for June Quarter. The company said it has incurred a loss of Rs 484 crore during the quarter as a result of a change in the cash flow hedging due to an increase in sales compared to the original sales forecast and advantage of the moratorium offered on the gold on loan.THE standalone EBITDA of the company came at Rs 294 crore against Rs 513 crore YoY. Read more

Ace investor Rakesh Jhunjhunwala reduced his stake in Titan during the March quarter of FY20 by 1.03cr shares quarter-on-quarter (QoQ). According to the BSE data, Rakesh Jhunjhunwala and Rekha Jhunjhunwala together held around 4.9cr shares or roughly 5.5% stake in the company against 5.93 crores, or 6.69 per cent, shares that they held at the end of December 2019 quarter. Rakesh Jhunjhunwala held 4.67 Cr or 5.27 per cent, shares of Titan in December quarter. But in March quarter, he pared his stake to 3.93 Cr or 4.43 per cent, shares. In December quarter, her stake in Titan was 1.26 Cr shares or 1.42 per cent, but in March quarter it came down to 0.97 Cr shares or 1.10 per cent of total Shares. Shares of Titan are down by nearly 19 per cent against a 26 per cent fall in benchmark Sensex for the calendar year 2020.